Mercer Global Advisors Inc. ADV Boosts Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Mercer Global Advisors Inc. ADV lifted its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 3.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,646 shares of the company’s stock after buying an additional 171 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Okta were worth $445,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in Okta during the 4th quarter worth about $1,686,000. Charles Schwab Investment Management Inc. increased its holdings in Okta by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company’s stock worth $87,903,000 after acquiring an additional 46,064 shares during the period. Tower Research Capital LLC TRC lifted its stake in Okta by 46.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,833 shares of the company’s stock worth $854,000 after purchasing an additional 3,429 shares in the last quarter. Westpac Banking Corp boosted its holdings in Okta by 2,574.9% in the 4th quarter. Westpac Banking Corp now owns 9,817 shares of the company’s stock valued at $774,000 after purchasing an additional 9,450 shares during the period. Finally, Forsta AP Fonden grew its position in shares of Okta by 40.5% during the 4th quarter. Forsta AP Fonden now owns 73,900 shares of the company’s stock valued at $5,823,000 after purchasing an additional 21,300 shares in the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta Trading Down 0.1%

OKTA opened at $124.05 on Wednesday. The firm has a market capitalization of $21.54 billion, a price-to-earnings ratio of -354.43, a PEG ratio of 6.42 and a beta of 0.96. Okta, Inc. has a one year low of $70.56 and a one year high of $124.89. The business has a 50 day simple moving average of $107.14 and a two-hundred day simple moving average of $92.92. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34.

Insider Activity at Okta

In other Okta news, insider Larissa Schwartz sold 11,552 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total value of $1,317,967.68. Following the completion of the sale, the insider now directly owns 22,125 shares in the company, valued at $2,524,241.25. This trade represents a 34.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CRO Jonathan James Addison sold 7,005 shares of Okta stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $101.19, for a total value of $708,835.95. Following the sale, the executive now directly owns 19,067 shares in the company, valued at approximately $1,929,389.73. The trade was a 26.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 154,452 shares of company stock worth $16,347,360 over the last quarter. 7.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on OKTA. Wells Fargo & Company increased their price objective on Okta from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Oppenheimer raised their price target on Okta from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. Canaccord Genuity Group boosted their price objective on Okta from $94.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, March 4th. The Goldman Sachs Group upped their price objective on shares of Okta from $107.00 to $123.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Finally, Scotiabank raised their target price on shares of Okta from $94.00 to $109.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $116.80.

Okta Company Profile

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.